QiMing Information Technology
QiMing Information Technology Co is engaged in research, development, manufacture and services of management software for the automobile industry and automobile electronic products.
The company offers enterprise resource planning systems (ERPs), product data management systems (PDMs), manufacturing executive systems (MESs) and total distribution systems (TDSs). It also makes automobile electronic products, which include car information systems, vehicle electronic control units, system integration, which involves the design of information applications, construction of network platforms and integration of application systems, as well as a data centre business.
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Qiming IT announces dividend payments
Qiming Information Technology Co (SZ:002232), China’s only listed auto IT company, released its positive annual report and dividend payment plan today. Shares in the company surged 8.26 percent on the report, reaching RMB24.78.
Sales increased 37.25 percent year on year, to RMB1.085bn in 2008. Net profit was RMB66.16m, 41.25 percent higher than in 2007. Earnings per share were RMB0.57.
The company announced it will pay a pre-tax cash dividend of RMB2.90 on every ten shares, and use its additional paid-in capital to fund the issue of ten shares to all shareholders up to year-end December 31, 2008.
Electronics account for 10 percent of the total cost of the average automobile in the country, below the global average of 25 percent.
Qiming’s controlling shareholder First Automobile Works (FAW), provides its subsidiary with a huge market. After IPO, Qiming launched its Tianjin branch, and enlarged its Dalian branch to help develop markets outside Changchun, where FAW is based.
